Which of the following is a retail dollar reduction for calculating the gross margin? Advertising expense...
Which of the following is a retail dollar reduction for calculating the gross margin?
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Advertising expense |
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Freight |
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Cash Discount |
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Alterations |
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None of the above |
Homework Answers
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Option A . Gross margin = Net sales - Cost of Goods Sold Gross margin is the excess of net sales revenue over the cost of goods sold. Cost if goods sold includes all the manufacturing costs incurred in the making of product. Advertising is not a manufacturing cost, hence it is not included in the calculation of gross margin. It is expensed as a operating expense. |
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Which of the following is a retail dollar reduction for
calculating the gross margin?
Advertising expense...
3. You are the buyer for a large retail chain. You need to calculate your gross...
3. You are the buyer for a large retail chain. You need to calculate your gross margin. You have the following information available: Purchases at retail $546,843 Purchases at cost 324,756 Markdowns 151,324 Employee discounts 33,456 Freight 4,521 Shortage 1,346 Cash discounts 5,678 Sales 359,818 Alterations 342 Senior citizen discount 899 What is the total gross margin? 4. Repeat exercise three; however, calculate the gross margin...
3. You are the buyer for a large retail chain. You need to calculate your gross...
3. You are the buyer for a large retail chain. You need to calculate your gross margin. You have the following information available: Purchases at retail Purchases at cost Markdowns Employee discounts Freight Shortage Cash discounts Sales Alterations Senior citizen discount $546,843 324,756 151,324 33,456 4,521 1,346 5,678 359,818 342 899 What is the total gross margin? 4. Repeat exercise three; however, calculate the gross margin using percentages.
11 Complete the following by calculating the cash discount and net amount paid: Gross amount of...
11
Complete the following by calculating the cash discount and net amount paid: Gross amount of invoice (freight charge already included) Freight charge Date of invoice Terms of invoice Date of payment Cash discount Net amount paid 700 None 1814 8/14 4/10, 3/15 n/30 4/10, 315, 11308/26 8/26
Any help with any of these would be great thanks The local department store recently had...
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Cost 227 221 18. 222 Given the following information, calculate the maintained markup %: 223 Retail...
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Boots and Bags Ltd. reported a gross profit margin of 25% in 2018. Indicate which of...
Boots and Bags Ltd. reported a gross profit margin of 25% in 2018. Indicate which of the following items would result in an increase in the company's gross profit margin in 2019. a. An increase in the number of boots and bags sold. b. A decrease in the commission rate for selling each bag or pair of boots. c. A decrease in the wholesale cost of bags. O d. A decrease in the number of customers paying promptly and not...
Prepare a multi-step income statemenr and compute the gross profit rate and profit margin ratio for...
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A company is considering a proposed expansion to its facilities. Which of the following statements is...
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3. You are the buyer for a large retail chain. You need to calculate your gross margin. You have the following information available: Purchases at retail Purchases at cost Markdowns Employee discounts Freight Shortage Cash discounts Sales Alterations Senior citizen discount $546,843 324,756 151,324 33,456 4,521 1,346 5,678 359,818 342 899 What is the total gross margin? 4. Repeat exercise three; however, calculate the gross margin using percentages.
11
Complete the following by calculating the cash discount and net amount paid: Gross amount of invoice (freight charge already included) Freight charge Date of invoice Terms of invoice Date of payment Cash discount Net amount paid 700 None 1814 8/14 4/10, 3/15 n/30 4/10, 315, 11308/26 8/26
Cost 227 221 18. 222 Given the following information, calculate the maintained markup %: 223 Retail 224 opening inventory $69,600.00 $145,000.00 225 gross purchases $36,000.00 $75,000.00 returns to vendors $7,200.00 $15,000.00 net purchases $98,400.00 freight $2,000.00 229 total merch handled $100,400.00 CMU = 230 net sales $80,000.00 cost % = 231 net markdowns $12,000.00 232 employee discounts $2,000.00 233 total retail deductions 234 closing book inventory 235 gross cost of merch sold 236 alterations costs $3,000.00 cash discounts $5,500.00 238...
Boots and Bags Ltd. reported a gross profit margin of 25% in 2018. Indicate which of the following items would result in an increase in the company's gross profit margin in 2019. a. An increase in the number of boots and bags sold. b. A decrease in the commission rate for selling each bag or pair of boots. c. A decrease in the wholesale cost of bags. O d. A decrease in the number of customers paying promptly and not...
Prepare a multi-step income statemenr and compute the gross
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Part II (20 points) The adjusted trial balance of Baratheon Tool & Die Company included the following selected accounts: I$ $ $ Accounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense 45,600 Dividends Payable 39,000 Freight-Out 282,000 Gain on Sale of Investment 12,000 Income Tax Expense 7.500 Property Taxes Payable 11,600 Retained Earnings 4,600 | Salaries Expense 14,000 36,000 388,000 24,000 Sales 1,772,000...
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